V Group, Inc. (OTC: VGID) develops quality-driven companies by incubating entities in various markets and spinning them off into separate public entities. In late Q4 2021, the company announced it is embarking on a new venture into the elderly in-home care industry. In light of this redirection, VGID stock has been garnering attention from investors ever since the start of trading this year – resulting in a 68% increase so far.
VGID Stock News
As of December 2021, the company announced it is venturing into the healthcare industry after signing a LOI to purchase a dynamic company in the elderly healthcare industry valued at almost 299 billion dollars in 2020 and projected to see more growth in the near future. As medical science allows our aging population to live longer than ever before, many continue to seek the comfort, convenience, and security of living in their own homes rather than an assisted living facility. This astonishing growth rate and acquisition could provide VGID a gateway into a quickly growing service sector.
According to VGID, the target company is known for specializing in providing part-time or around-the-clock assistance to elderly clients in need of support using only qualified and experienced caregivers. The company is currently undergoing due diligence on the target company while an accounting firm inspects its finances. Once confirmed, VGID will update shareholders on the acquisition target and new direction.
However, investors remain bullish on VGID due to its heavy insider ownership as Director Lawrence Twombly owns a total of 20 million Class A preferred shares along with 1.49 billion common stock shares in the company. This heavy ownership is a bullish sign as the acquisition target could likely add notable value to the company.
The company last updated shareholders saying, “Final negotiations for the acquisition are completed. Once we get the final paperwork back from lawyers, we will be releasing the information.” Now many shareholders are anticipating an update by Friday January 21st or PR in the coming weeks.
VGID has also assured investors that it has no plans for dilution – making VGID stock a possible healthcare stock on the rise once its acquisition is complete.
@cdntradegrljenn believes VGID is worth holding in anticipation of acquisitions news.
Currently, VGID stock is trading at $.0013 close to its support at .0012. The stock shows a primary resistance at .0016 and a secondary resistance at .0024. Accumulation has been steadily increasing and the MACD is approaching a bullish crossover. The RSI is rebounding from overselling at 44.
The steady accumulation is a positive sign for VGID stock as shareholders remain confident that coming PR from the company could push the stock even higher. Despite the low RSI, VGID stock appears ready to hold near its support and likely rebound with news regarding the acquisition.
VGID Stock Forecast
With heavy insider ownership and a pivot towards the expanding industry of in-home care for the elderly, VGID could see remarkable growth in 2022. As investors wait on news from the company regarding its new venture, VGID appears to be holding its 68% increase so far and could build on that with news. With news expected any day, VGID stock could revisit its resistance at .0024 or even June’s high at .003.
If you have questions about VGID stock and where it could be heading next feel free to reach out to us in our free alerts room!
Please visit and read our disclaimer here.